3 key factors to have a project success (2024)

From the review of the literature, project success is defined as something that meets cost, schedule, and performance specifications. But, the projects’ success is far more complex [4]. For the last forty years or more, the project success was defined as the completion constraints of time, cost, and performance. More recently, the definition of project success has been modified to include completion [7] [5].

Below I cite 3 key factors that your organization also should take into consideration in the next project:

A successful project attends the Company’s strategic view. A study published in the Journal of Industrial Engineering & Management [3] concludes that a project can be completed on time within budget but considered as a failed project if it did not meet company strategic objectives. Judging a project’s success within an organization must take into account that the project contributing in an archive to the organization’s strategic objectives, it cannot be limited to the efficiency of the project management processes employed.

A successful project is made by teamwork that knows their importance on it. The South Asian Journal of Management Sciences [4], presented in 2017 a study that defines the project teamwork as an effective tool toward the project’ success. This is because when the project team members (working with the same frequency) can create a synergetic effect with respect to project success factors. Further, the project team members should realize the importance of their contribution to the project.

A successful project is led by project managers prepared for future events. A study published in 24th International Annual Conference of American Society for Business and Behavioral Sciences (ASBBS) [1], indicates that project managers possessing strong vision and imagination competencies have to contribute in the project success because they have a significant influence on preparing for the future.